Cablevision 2012 Annual Report Download - page 63
Download and view the complete annual report
Please find page 63 of the 2012 Cablevision annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
 |
 |
(57)
Income from discontinued operations
Income from discontinued operations, net of income taxes, of $200,250 for the year ended December 31,
2012 represents primarily the gain related to the settlement of litigation with DISH Network (see Note 20
to our consolidated financial statements for additional information). Income from discontinued
operations, net of income taxes, of $53,623 for the year ended December 31, 2011 represents the net
operating results of AMC Networks, including transaction costs, through June 30, 2011, the date of the
AMC Networks Distribution.
Business Segments Results
Telecommunications Services
The table below sets forth, for the periods presented, certain historical financial information and the
percentage that those items bear to revenues, net for our Telecommunications Services segment:
Years Ended December 31,
2012 2011
Amount
% of Net
Revenues Amount
% of Net
Revenues
Favorable
(Unfavorable)
Revenues, net ..................
.
$6,292,194 100% $6,279,653 100% $ 12,541
Technical and operating
expenses (excluding
depreciation and
amortization shown
below) .........................
.
2,995,351 48 2,648,743 42 (346,608)
Selling, general and
administrative
expenses ......................
.
1,241,451 20 1,167,632 19 (73,819)
Depreciation and
amortization ................
.
996,625 16 942,647 15 (53,978)
Operating income ........
.
$1,058,767 17% $1,520,631 24% $(461,864)
The following is a reconciliation of operating income to AOCF:
Years Ended December 31,
2012 2011 Favorable
Amount Amount (Unfavorable)
Operating income ....................................................................
.
$1,058,767 $1,520,631 $(461,864)
Share-based compensation .......................................................
.
47,775 32,635 15,140
Depreciation and amortization .................................................
.
996,625 942,647 53,978
AOCF ...............................................................................
.
$2,103,167 $2,495,913 $(392,746)
Superstorm Sandy
On October 29, 2012, Superstorm Sandy made landfall in our New York metropolitan service area,
resulting in widespread power outages and service disruptions for almost 60% of our customers in this
service area, as well as damage to certain portions of our cable network.